Detached Two-Family
For Sale
$1,348,000
Pending
9612 34th Avenue, Corona, NY 11368
Residential Income, Corona, NY
Property Size2,348 SF
Lot Size0.06 Acres
Days on Market201
Property Features for 9612 34th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 8, Bathroom 1, Bedroom 9, Bedroom 1, Basement, Bedroom 7, Bedroom 3, Bedroom 6, Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 5
Interior features
First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen
Basement
Walk-Out Access, Finished, Full
Special listing conditions
Probate Listing, Third Party Approval
Standard status
Pending
APN
01730-0005
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8041
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1930
Number of units
2
Building materials
Frame
Listing Agency:
Mitra Hakimi Realty Group LLC
Listed By:
Etan Hakimi · License #1014541
(718) 268-5588
Added: Feb 23
Changed: Sep 3
Last Checked: Sep 12 at 7:06PM
MLS# 964182
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully detached duplex was built in 1930 on a 25x100 lot, with an approximately 20x54 building and 2,348 square feet of living space. The first-floor residence includes five bedrooms, a living room, full bathroom, kitchen, backyard access, and a finished basement with an additional bathroom. The second-floor apartment provides four bedrooms, a living room, full bathroom, and private kitchen. Interior features include an eat-in kitchen and first-floor bedroom and full bath. The property has frame construction, natural-gas heat, public water, public sewer, and water availability.
Located at 96-12 34th Avenue in Corona, the property offers access to the 7 train at Junction Boulevard. Flushing Meadows Corona Park, Citi Field, Northern Boulevard, Roosevelt Avenue, and LaGuardia Airport are identified in the surrounding context.
Located at 96-12 34th Avenue in Corona, the property offers access to the 7 train at Junction Boulevard. Flushing Meadows Corona Park, Citi Field, Northern Boulevard, Roosevelt Avenue, and LaGuardia Airport are identified in the surrounding context.
Key Highlights
- Detached duplex on a 25x100 lot with an approximately 20x54 building
- 2,348 square feet of living space
- Five‑bedroom first‑floor residence and four‑bedroom second‑floor apartment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$57,395
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,147,900
$1.1M
Cap Rate 7%
$819,929
$819.9K
Cap Rate 9%
$637,722
$637.7K
Market Conditions
NOI Build-Up for 2,348 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$108.5K $46.20/SF
− Vacancy
−$4.1K −$1.76/SF
EGI
$104.4K $44.44/SF
− OpEx
−$47.0K −$20.00/SF
NOI
$57.4K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,147,900
Cap Rate 7%
$819,929
Cap Rate 9%
$637,722
Alternative Uses
Best Use
Apartment 5plus
$819.9K
$717.4K – $956.6K
NOI $57,395 @ 7.0% cap · market cap 4.26%
Second Best
Multifamily LT 5
$555.2K
$485.8K – $647.7K
NOI $38,863 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,168 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
6,032
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate residences feature individual kitchens, private backyard access, and finished basement space.
Where is this duplex located?
The property is located at 9612 34th Avenue Corona, NY.
What is the asking price?
The asking price for this property is $1,348,000.
What are key features of this property?
This property features: Detached duplex on a 25x100 lot with an approximately 20x54 building; 2,348 square feet of living space; Five‑bedroom first‑floor residence and four‑bedroom second‑floor apartment
